Zelnecirnon (RPT193), in Phase IIb for atopic dermatitis and Phase IIa for asthma, may not have caused the case of liver failure cited in the hold but the pause may impede a crucial data readout.

Public Company Edition: NewAmsterdam grossed $328m in its SPAC merger, while Liminatus may raise up to $316m in a new SPAC deal. Also, Intellia and Iveric grossed $300m each in follow-on offerings, bluebird sold a PRV for $102m and MEI ends zandelisib development resulting in layoffs.

Public Company Edition: Valuations have fallen enough in 2022 to lead some companies to wind down operations, but a recent uptick opened a window for a few offerings. Chinook raised $105m in a follow-on offering, while Flagship led a $79.2m registered direct offering for Evelo.

Evolving challenges will keep the COVID-19 pipeline active, while oncology, immunology and CNS are areas also expected to see much progress in 2022. Industry executives look forward to the year in therapeutic R&D.